Samsung Electronics ranks No. 4 in R&D spending

Published : Dec 11, 2017 - 10:01 Updated : Dec 11, 2017 - 10:01

Samsung Electronics Co. ranked No. 4 among 2,500 major global companies in terms of expenditures on research and development projects over the 2016-2017 period, data showed Monday.

According to the 2017 EU Industrial R&D Investment Scoreboard released by the European Commission, the South Korean tech giant spent 12.2 billion euros ($14.3 billion) in R&D projects over the period, down two notches from the previous year.

The report said the findings are based on the 2016 calendar year, but added significant proportions have financial years ending on March 31, 2017.

It marked the sixth consecutive time for Samsung to be included in the top five list in annual research.

Samsung Electronics Co.`s R&D center in Seoul (Yonhap)

Germany-based Volkswagen was the top player on the list by spending 13.7 billion euros, trailed by US-based Microsoft Corp. with 12.4 billion euros. Intel Corp. was the fifth-largest spender at 12.1 billion euros.

Samsung's smaller South Korean rival LG Electronics Inc. was ranked at 50th place, and Hyundai Motor Co. and SK hynix Inc. came in at 77th place and 83rd place, respectively, the research showed.

The United States hosted 36 companies on the top 100 list, trailed by Japan, Germany, and China at 14, 13, and seven firms, respectively. South Korea and the Netherlands both had four businesses. (Yonhap)